Business Moves – Southeast

Bankers Insurance, AIX Group Florida

ankers Insurance Group has reached an agreement with AIX Group to acquire its Florida policies as part of a strategy to increase Bankers’ presence in the state’s Latino community.

Under the terms of the deal, as of March 1, Bankers acquired the renewal right and servicing of AIX Florida’s current book of business. The Miami-based AIX Florida is part of the AIX Group, a member of the Hanover Insurance Group.

St. Petersburg, Fla.-based Bankers Insurance is a subsidiary of the Bankers Financial Group.

Digital Insurance, BSD

Atlanta-based benefits broker Digital Insurance has acquired Benefit Services & Design (BSD) of Raleigh, North Carolina. The 30-year-old BSD has been merged with the Raleigh office of Digital Benefit Advisors (DBA), a division of Digital Insurance. BSD principals Taylor Uzzell and Tom Snell, along with their six-member team, are now with DBA and will continue to operate from their offices in Sanford, Raleigh and Durham, N.C.

Eastern Insurance

Eastern Insurance Holdings Inc. has opened a Gulf South regional office in support of subsidiary Eastern Alliance Insurance Group (EAIG), which specializes in workers’ compensation. The office in Madison, Miss. will serve Mississippi, Alabama, Arkansas and Louisiana.

AIG, U.S. Treasury

American International Group Inc. has eliminated the U.S. government’s last financial interest in the company, buying back warrants from the U.S. Treasury for about $25 million. The government rescued AIG at the depths of the financial crisis. The bailout ultimately totaled $182 billion, and when all was said and done the Treasury owned more than 90 percent of the company. The Treasury sold the last of that stock last year but still held some warrants. AIG said it has now repurchased all of them.

Ironshore, Lexon Surety

Ironshore Inc. and Lexon Surety Group have completed the first stage of a new strategic alliance in the surety market. Ironshore’s subsidiaries will provide quota share reinsurance and primary fronting facility on new and renewal business for most types of U.S. commercial and contract surety risks. In addition, Paul S. Giordano, chairman of Ironshore’s political risk, special risk and surety businesses, will become a director of Lexon. Lexon Surety Group is comprised of Lexon Insurance Co. and Bond Safeguard Insurance Co.; both are headquartered in Mt. Juliet, Tenn.

Topics Florida USA AIG